The banking giant came under fire after the International
Consortium of Investigative Journalists published a report naming
100,000 clients that were using the bank to dodge taxes.

The revelations came from a list of HSBC’s clients stolen by a
former HSBC computer technician, Herve Falciani, in 2008.
Falciani shared the confidential data with French authorities.

In 2012, it emerged the bank had failed to enforce anti-money
laundering controls and deliberately breached US sanctions. It
was also fined $1.9 billion (£1.2 billion) following allegations
it aided terrorists in moving money around the globe.

Next week’s session with the Economic Affairs Committee will be
the first Green has undergone since stepping down as trade
minister two years ago.

The Economic Affairs Committee will inquire whether banking
giants such as HSBC are simply too big to manage and whether
large-scale regulatory reforms are required.

In particular, it will consider whether US prosecutors’ policy of
doling out fines to firms is a better means of cleaning up
banking than individual prosecutions.

Green will appear before the committee alongside Sir Win
Bischoff, a veteran financier who was formerly a Lloyds Banking
Group chief.

Bischoff currently heads the Financial Reporting Council.

Green and Bischoff will also be probed on the City’s bonus
culture as inequality remains high in Britain and the
Conservative government continues to roll back the welfare state.

Last month, HSBC announced it is cutting 50,000 from its global
workforce to reduce costs by up to $5 billion in the next two
years. It said it wishes to simplify its structure and focus on
the faster-growing Asian markets.

The bank is also considering moving its headquarters from the UK,
and is expected to make a final decision on this before the end
of 2015.